Federal Register / Vol. 63, No. 122 /Thursday, June 25, 1998 / Notices 34677

11 15 U.S.C. 78f(b)(5).

12 In approving this rule change, the Commission

has considered the proposed rule’s impact on

efficiency, competition, and capital formation. 15

U.S.C. 78c(f).

13 15 U.S.C. 78s(b)(2).

14 17 CFR 200.30–3(a)(12).

executed in violation for Rule 6.86,

which states that only non-broker-dealer

orders are eligible for a guarantee of up

to 20 option contracts at the

disseminated market price.

III. Discussion

The Commission finds that the

proposed rule changes are consistent

with the requirements of the Act and the

rules and regulations thereunder

applicable to a national securities

exchange and, in particular, with the

requirements of Section 6(b)(5)11 in that

they are designed to facilitate

transactions in securities, promote just

and equitable principles of trade, and

protect investors and the public

interest.12

Specifically, the Commission believes

that the proposal will facilitate

transactions in option contracts and

afford greater protection of investors

and the public interest by making the

members in the trading crowd and the

Order Book Official staff aware of the

nature of the orders being represented

on the Floor, thereby assuring that

broker-dealer orders will not be

represented inadvertently as public

customer orders. The Commission notes

that only non-broker-dealer orders are

entitled to be placed in the Exchange’s

public limit order book and to be given

priority over broker-dealer orders under

certain circumstances, and that only

non-broker-dealers are entitled to

receive a guaranteed minimum of 20

contracts at the disseminated bid or

offering price. In view of these existing

constraints upon broker-dealer orders

and of the added protection afforded

public customers by the proposal, the

Commission does not believe that

requiring all broker-dealer orders to be

identified as such public outcry will

cause any unnecessary burden upon a

member.

The Commission agrees with the

Exchange that the proposal will make

the existing rule less complicated and

easier to follow by removing the

distinction between broker-dealer orders

to be executed at the bid or offering

price, and those that are not. The

Commission notes that there is no such

distinction applicable to Market Maker

orders, which must be verbally

identified as such prior to their

execution. Thus, the Commission

believes that removing the subject

distinction from Rule 6.66(c) will

facilitate transactions in option

contracts by making the Exchange’s

option order disclosure rules uniform,

consistent, and easier to follow.

The Commission also believes that it

is appropriate for the Exchange to

amend Rule 6.2 by deleting

Commentary .05 from that rule, which

relates to the member’s overall conduct

and manner of dress on the options

trading floor, and adding it as

Commentary .01 to Rule 6.77, which

relates to the issue of when bids and

offers constitute binding contracts. In

view of the proposed amendment of

Rule 6.66(c), the Commission believes it

appropriate for the Exchange to add a

new subparagraph (f) to this

Commentary, which would add certain

violations of Rule 6.66(c) as amended to

the list of those violations that may rise

to a circumstance in which two Floor

Officials may nullify a transaction or

adjust its terms. Specifically, such

action could be taken if a Floor Broker

failed to identify a broker-dealer order

for 20 contracts or less. The Commission

agrees with the Exchange that adding

this provision is simply a logical

extension of the existing Commentary

.05(v) of Rule 6.2, which permits two

Floor Officials to nullify, or adjust the

terms of, any order executed in violation

of Rule 6.86, which states that only nonbroker-dealer orders are eligible for a

guarantee of up to 20 option contracts

at the disseminated market price. The

Commission believes that enabling

Floor Officials to nullify or adjust the

terms of a transaction that would violate

Rule 6.66(c) as amended will afford

greater protection of investors and the

public interest.

For the foregoing reasons, the

Commission finds that PCX’s proposal

to require the broker-dealer status of an

order to be identified by public outcry

to the trading crowd prior to execution,

regardless of whether the order is to be

executed at the trading crowd’s

disseminated bid or offering price, and

to add certain violations of rule 6.66(c)

as amended to the list of those

violations that may cause a transaction

to be nullified or adjusted, is consistent

with the requirements of the Act and

with the rules and regulations

thereunder.

In addition, the Commission finds

good cause consistent with the Act for

approving Amendment No. 1 to the

proposed rule change prior to the

thirtieth day after the date of

publication of notice of filing thereof in

the Federal Register. Specifically,

Amendment No. 1 simply corrects

certain typographical errors in the text

of the rule proposal and repharases the

new subparagraph (f) being added to

Commentary .01 of Rule 6.77. The

amendment does not substantively

change the proposal as originally filed.

Accordingly, the Commission approves

Amendment No. 1 on an accelerated

basis.

IV. Solicitation of Comments

Interested persons are invited to

submit written data, views, and

arguments, including whether the

submission is consistent with the Act,

concerning Amendment No. 1. Persons

making written submissions should file

six copies thereof with the Secretary,

Securities and Exchange Commission,

450 Fifth Street, N.W., Washington, D.C.

20549. Copies of the submission, all

subsequent amendments, all written

statements with respect to the proposed

rule change that are filed with the

Commission, and all written

communications relating to the

proposed rule change between the

Commission and any person, other than

those that may be withheld from the

public in accordance with the

provisions of 5 U.S.C. 552, will be

available for inspection and copying in

the Commission’s Public Reference

Room. Copies of such filing will also be

available for inspection and copying at

the principal office of the PCX. All

submissions should refer to File No.

SR–PCX–98–04 and should be

submitted by July 14, 1998.

V. Conclusion

It is therefore Ordered, pursuant to

Section 19(b)(2) of the Act,13 that the

proposed rule change (SR–PCX 98–04),

as amended, is approved.

For the Commission, by the Division of

Market Regulation, pursuant to delegated

authority.14

Margaret H. McFarland,

Deputy Secretary.

[FR Doc. 98–16952 Filed 6–24–98; 8:45 am]

BILLING CODE 8010–01–M

SMALL BUSINESS ADMINISTRATION

Data Collection Available for Public

Comments and Recommendations

ACTION: Notice and request for

comments.

SUMMARY: In accordance with the

Paperwork Reduction Act of 1995, this

notice announces the Small Business

Administration’s intentions to request

approval on a new, and/or currently

approved information collection.

DATES: Comments should be submitted

on or before August 24, 1998.

FOR FURTHER INFORMATION CONTACT:

Curtis B. Rich, Management Analyst,
34678 Federal Register / Vol. 63, No. 122 /Thursday, June 25, 1998 / Notices

Small Business Administration, 409 3rd

Street, S.W., Suite 5000, Washington,

D.C. 20416. Phone Number: 202–205–

6629.

SUPPLEMENTARY INFORMATION:

Title: ‘‘Application Form for SDB

Program’’.

Type of Request: Revision of a

currently approved collection.

Form No: 2065.

Description of Respondents: Small

Businesses applying for SDB

Certification.

Annual Responses: 30,000.

Annual Burden: 90,000.

Comments: Send all comments

regarding this information collection to

Brenda Washington, General Business &

Industry Specialist, Office of Minority

Enterprise Development, Small Business

Administration, 409 3rd Street S.W.,

Suite 8000, Washington, D.C. 20416,

Phone No: 202–205–7663.

Send comments regarding whether

this information collection is necessary

for the proper performance of the

function of the agency, accuracy of

burden estimate, in addition to ways to

minimize this estimate, and ways to

enhance the quality.

Title: ‘‘Application for Business

Loans’’.

Type of Request: Revision of a

currently approved collection.

Form No.’s: 4,4SCH A, 4–I, 4–L, 4–

SHORT, EIB–SBA–84–1.

Description of Respondents:

Applicants for an SBA Business Loan.

Annual Responses: 60,000.

Annual Burden: 1,187,400.

Comments: Send all comments

regarding this information collection to

Keith Lucas, Program Support

Specialist, Office of Financial

Assistance, Small Business

Administration, 409 3rd Street S.W.,

Suite 8300, Washington, D.C. 20416 .

Phone No: 202–205–6486. Send

comments regarding whether this

information collection is necessary for

the proper performance of the function

of the agency, accuracy of burden

estimate, in addition to ways to

minimize this estimate, and ways to

enhance the quality.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 98–16838 Filed 6–24–98; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Reporting and Recordkeeping

Requirements Under OMB Review

ACTION: Notice of reporting requirements

submitted for review.

SUMMARY: Under the provisions of the

Paperwork Reduction Act (44 U.S.C.

Chapter 35), agencies are required to

submit proposed reporting and

recordkeeping requirements to OMB for

review and approval, and to publish a

notice in the Federal Register notifying

the public that the agency has made

such a submission.

DATE: Comments should be submitted

on or before July 27, 1998. If you intend

to comment but cannot prepare

comments promptly, please advise the

OMB Reviewer and the Agency

Clearance Officer before the deadline.

COPIES: Request for clearance (OMB 83–

1), supporting statement, and other

documents submitted to OMB for

review may be obtained from the

Agency Clearance Officer. Submit

comments to the Agency Clearance

Officer and the OMB Reviewer.

FOR FURTHER INFORMATION CONTACT:

Agency Clearance Officer: Jacqueline

White, Small Business Administration,

409 3RD Street, S.W., 5th Floor,

Washington, D.C. 20416, Telephone:

(202) 205–6629.

OMB Reviewer: Victoria Wassmer,

Office of Information and Regulatory

Affairs, Office of Management and

Budget, New Executive Office Building,

Washington, D.C. 20503.

Title: Financial statement of debtor.

Form No: 770.

Frequency: On Occasion.

Description of Respondents:

Recipients of SBA Loans.

Annual Responses: 161,000.

Annual Burden: 281,750.

Jacqueline White,

Chief, Administrative Information Branch.

[FR Doc. 98–16970 Filed 6–24–98; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Berthel SBIC, LLC (License No. 07/07/

0100); Notice of Issuance of a Small

Business Investment Company

License

On May 15, 1997, an application was

filed by Berthel SBIC, LLC, at 100 2nd

Street, SE, Cedar Rapids, Iowa, with the

Small Business Administration (SBA)

pursuant to Section 107.300 of the

Regulations governing small business

investment companies (13 CFR 107.300

(1997)) for a license to operate as a small

business investment company.

Notice is hereby given that, pursuant

to Section 301(c) of the Small Business

Investment Act of 1958, as amended,

after having considered the application

and all other pertinent information, SBA

issued License No. 07/07–0100 on May

4, 1998, to Berthel SBIC, LLC to operate

as a small business investment

company.

(Catalog of Federal Domestic Assistance

Program No. 59.011, Small Business

Investment Companies)

Dated: May 8, 1998.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 98–16976 Filed 6–24–98; 8:45 am]

BILLING CODE 8025–01–P

SMALL BUSINESS ADMINISTRATION

Bluestem Capital Partners II, L.P.

(License No. 08/78–0153); Notice of

Request for Exemption

On May 22, 1998, Bluestem Capital

Partners II, L.P. (the ‘‘Licensee’’), a

Delaware limited partnership and SBIC

Licensee number 08/78–0153 filed a

request to the SBA pursuant to Section

107.730(a) of the Regulations governing

small business investment companies

(13 CFR 107.730(a)(1998)) for an

exemption allowing the Licensee to

invest in Hat World, Inc.(‘‘Hat World’’),

of Sioux Falls, South Dakota. Hat World

received prior financial assistance from

an Associate (as defined by Section

107.50 of the SBA Regulations) of the

Licensee, and has itself become an

Associate of the Licensee.

Hat World is currently in need of

additional capital, however, the

Licensee can only offer this assistance to

Hat World upon receipt of a prior

written exemption from SBA. The

exemption requested is the basis for this

notice, and is required pursuant to

§ 107.730(g) of the Regulations.

Notice is hereby given that any person

may, not later than 15 days from the

date of publication of this Notice,

submit written comments on this

exemption request to the Associate

Administrator for Investment, Small

Business Administration, 409 3rd Street,

SW, Washington, DC 20416.

A copy of this Notice will be

published in a newspaper of general

circulation in Sioux Falls, South Dakota.

(Catalog of Federal Domestic Assistance

Programs No. 59.011, Small Business

Investment Companies)

Dated: June 8, 1998.

Don A. Christensen,

Associate Administrator for Investment.

[FR Doc. 98–16972 Filed 6–24–98; 8:45 am]

BILLING CODE 8025–01–P